L Brands 401(k) Plan Breach of Fiduciary Duty Class Action

Company retirement plans, like 401(k) plans, are governed by the Employee Retirement Income Security Act (ERISA), and those who handle them are fiduciaries, with the duties of prudence and loyalty to the participants. This class action brings suit against L Brands, Inc., L Brands Service Company, LLC, and the plan’s administrative committee, alleging that these  Read more

Rising Bar Graph on Chalkboard Titled "Retirement Plan"

Northern Trust Retirement Plan Poorly-Performing Options Class Action

Company retirement plans are governed by the Employee Retirement Income Security Act of 1974 (ERISA). This includes the Northern Trust Company Thrift-Incentive Plan. This class action brings suit against the Northern Trust Company, its Employee Benefit Administrative Committee, and the Committee’s members, alleging that they have breached their fiduciary duties under the plan.  Read more

Window with Logo and Name "Northern Trust"

Nestle 401(k) Duties of Prudence and Loyalty ERISA Class Action

The plaintiff in this case brings suit on behalf of the Nestle 401(k) Savings Plan, against Nestle USA, Inc. and its board of directors. The Employee Retirement Income Security Act (ERISA) governs company-employee retirement accounts, and the complaint alleges that those responsible for Nestle’s 401(k) plan violated their fiduciary duties of loyalty and prudence under  Read more

Hand Putting Coin in Piggybank Labeled "401(k)"

US Roche 401(k) Plan Breach of Fiduciary Duties Class Action

Now that 401(k) plans are the primary form of retirement savings in the US, participants are looking more closely at how employers and administrators manage plans. The complaint for this class action brings suit against Genentech, Inc., the US Roche DC Fiduciary Committee (or Administrative Committee), and the individual committee members, alleging that the US  Read more

A Genentech Building

Biogen 401(k) Retirement Plan Breach of Fiduciary Duties Class Action

When companies establish 401(k) plans for their employees, the plans are governed under the Employee Retirement Income Security Act of 1974 (ERISA). Those who handle the plan are fiduciaries for it and, as such, they owe certain duties to the participants and beneficiaries. However, the fiduciaries of Biogen, Inc.’s 401(k) Savings Plan—Biogen, Inc., the Biogen,  Read more

Clock, Stairstep Pile of Coins, and Money in a Jar Labeled "Retirement"

Nvidia 401(k) Plan Breach of Fiduciary Duties Class Action

Companies appoint various parties to manage and be responsible for the 401(k) plans for their employees. These people act as fiduciaries and are required under the Employee Retirement Income and Security Act of 1974 (ERISA) to carry out the fiduciary duties of loyalty and prudence. In this class action, the complaint claims that fiduciaries of  Read more

Nvidia Logo Drawn in Green Lights

JPMorgan 401(k) Plan ERISA Fee Settlement

A settlement fund of $9 million is resolving a class action against JPMorgan Chase Bank, NA, JPMorgan Chase & Company, and others involved with the company’s 401(k) Savings Plan. According to the complaint, the defendants breached their fiduciary duties and engaged in transactions prohibited by the Employee Retirement Income Security Act of 1974 (ERISA) in  Read more

JPMorgan Chase Sign in Front of Skyscraper

Eversource 401(k) Plan Breach of Fiduciary Duties Class Action

The Eversource 401(k) plan, like most such plans, is governed by the Employee Retirement Income Security Act (ERISA). Those responsible for the plan include Eversource Energy Service, the Board of Directors of Eversource Energy Service and its members, and the Investment Management Committee and its members. The complaint for this class action contends that these  Read more

Eversource Name and Logo

Northwell Health 403(b) Plan Breach of Fiduciary Duty Class Action

The complaint for this class action brings suit against Northwell Health, Inc. and the Northwell Health, Inc. 403(b) Plan Committee for breach of fiduciary duties. A 403(b) retirement plan is similar to a 401(k), except that it is for employees of tax-exempt and nonprofit organizations, like certain schools and hospitals. Like 401(k) plans, it is  Read more

A Glass-Fronted Northwell Health Building Reflecting the Sky

Plexus Corp. 401(k) Plan Breaches of Fiduciary Duty Class Action

The complaint for this class action asserts that the primary purpose of the Employee Retirement Income Security Act (ERISA) is to protect the participants and beneficiaries in private retirement plans. Those who manage or administer the plans must act solely in the interest of the interest of these parties. The complaint brings suit against Plexus  Read more

Coins and Bills in Jar Labeled "Retirement"